Crono's correction & buy zone3 drive set up on NASDAQ:CRON
Buy zone at 16, look for profit taking as euphoria has set in this market. Notice weekly candle if close below open of 21.82
CRON trade ideas
Very Nice Fib Set UP!!!! SHORTLooks to be Top ish. Could easily see 14.00 if the fomo buyers panic anytime soon
CRON hourly eq favours the bearsCRON end of day bounce is weak after testing and holding support by just 20cents. Bulls need to prove it to us
Chart Analysis - CRONThis is a video for explaining how to use Fibonacci analysis to catch out new support or resistance of stock once it went up over previous peak.
youtu.be
CRON - Throw over and Break of Parabolic Curve?For the past 2 weeks we've been looking for the throw over and break of the parabolic curve. Was today the day? We got a nice throw over and the Snap! of the pink parabolic curve! Today may have been the 1st clue that this stock has rallied to fast and needs a bit of a retracement. I would really like the price to break the blue channel support line as shown and then have a fast retracement to the lower black channel support line.
We are looking for the bigger Gartley or Bat Patterns to complete. We are way far ahead in the diagnosis of which pattern to expect at this time, and simply thinking about future possibilities.
The Green Gartley looks nice with the 61.8% retracement to the old black channel line. We'll see. We need the B and C points to determine where the final D point (not shown) will be. I will be looking for the first pivot point B (If today was the high) around the ? labels shown in red. Then a Bounce back up to test ( and fail) the highs for point C.
I bought puts last week as shown and I am "underwater" at this time as price is higher than when the puts were bought. (too early)
I am still bearish on CRON at this time obviously :)
CRON - It was a great run, now for a breatherI had to battle serious feelings of FOMO after the crazy breakout CRON has had. However, this is a good short opportunity. The breakout was parabolic in nature and I don't think it can last much longer. I have 3 targets indicated where I plan to take profit and perhaps get in again depending on how things shape up. Don't get me wrong: this is a great company with impeccable leadership, unmatched innovation, and the partnerships to make their product the most sought-after by consumers.
CRON potential volume climax may mark the top of this moveMust hold level for the bulls to remain in full control is the support set at the low of the pullback this afternoon. Lose that level and daily consolidation will begin
$cron 3 days into research in now short. No reason for this pop.Chart looks like sh!t, not seeing a reason for this move. Nice juicy setup for me.
CronosI am looking for a pull back on the hourly to 4 hour time frame in an over all bullish direction.
CRON: is the 161.80% Fib line of technical importance? I'm new to technical analysis and curious if CRON reaching the Fibonnaci 161.80% mark vs. its post Short-Seller-report lows could bring resistance to the stock ?
CRON - Time to sell? Retracement due soon? Cron looks to have completed its 5th of 5 of wave 3.1 up. Now in the sell zone. It now looks due for a pullback. It actually hit the high side of the black channel, as well as rsi on the hourly chart is no lagging the upward price moves.
I bought puts yesterday, but it looks a bit early. :(
I am looking for a nice retracement with either the Gartley or the Bat pattern shown in green and yellow.
After we get a few more pivot points like A,B,and C, then we can have a better projection for how deep will the upcoming retracement be. I do expect to get to the green buy zone.
I have puts (my money) on the downside and I am obviously biased.
$CRON straw fireGood luck with this parabola, what goes up must get back down.
Hysterical movements are not organic, you wont be advised, ultimately there will be an 80% circa retracement move.
Going back to 10s soon. Like UGAZShort as much as u can. but short at your personal risk. 95% positive on this. OR buy PUTS as a safety
CRON - Topping out?Getting near the upper limits of this move up in wave 3.1 of what should be a nice extended 3rd wave someday.
But for now we may be seeing the highs for the first subwave called wave 3.1.
IF this is the high, then we can begin to look for harmonic retracement patterns such as Gartley and Bat. This would give us a great 3rd chance (for those that don't have this stock yet) to buy near the lows. The Buy Line has been a great reference line for us since last year. The lows should not get as low as others that have bought on the 1st chance or the second chances last year. But this should still provide a very nice buying opportunity.
Look for the 10.25 to 12.00 range as indicated by the green buy zone.
If you have CRON stock now, and want to play for the retracement, look for the snap and break lower as in the harmonic patterns to confirm point b. Then on those small retracements back up near point c, would be a great place to short.
Long term investors just hold for the long haul.
Aggressive traders can look to short near here at the $20 zone and watch the upper channel for resistance highs. We are beginning to get some rsi divergence on small time frames.
I am bearish now. I have 100 March 20 puts.... so my opinion is obviously biased
Thanks for reading my silly Old Fart thoughts, I appreciate it!
there will be a clear signal when the short squeeze is overSpectacular short squeeze so far. Waiting for that insane candle at the top before buying puts. In my opinion puts is safer than shorting here because they dont call them short squeezes for nothing.
Short the herd $cronsorry bruvalicious retail, but this is about as good as a short can get. divs and para this and rs i am sure this going to tank.
Looking GREAT!!I have multiple wave counts going here right now, but all of them look like we have plenty of room to go up!
Might get a small pullback to $16, but honestly I'm going in now around 18 just in case. If it goes down to 16, I'll just buy more to get my average share cost down. That hemp bill and the new congress means good things for cannabis.
CRON BULL CASE Very bullish on CRON the next could of weeks. We need it to continue to rally and consolidate in order for our strategy to work well. As you can see on the 01/29 chart the run started in the AM and then it settled, to only reverse the selling to start the new trend for the 01/30 keep your eyes on this chart!
My Chronic AnalysisRubin, Vincent and whoever else may see this. My chronic analysis of CRON. With the play button on the chart we can see how accurate the above analysis is.
